With today’s low interest rates you may be able to buy a much larger or much more extravagant home than you’d been considering. But should you?

First think about how you’ll use the home. Do you have enough furniture to fill 2 or 3 extra rooms – or to fill extra-large sized rooms? And what about those extra rooms? Do you really need a wine cellar? Will you actually use the office or the exercise room? If you’ll use them, you should go for it. But if they’ll sit empty then they’ll become “junk repositories” and a drain on your resources.

So first consider your lifestyle and what you’ll actually use and enjoy.

Be Conservative When Buying A house for sale in Los Angeles

Then think about the amount of money you’ll have for upkeep on that new house for sale in Los Angeles. The larger the home, the more there is to clean and to maintain.

Start with cleaning. If you’re a do-it-yourself house cleaner, how much time do you want to devote to vacuuming, dusting, and scrubbing? How much time do you have to devote to those tasks? Will it be a family responsibility, or will one family member start feeling put-upon?

And then there’s maintenance. Every home needs it from time to time – and the more house you have, the more maintenance will be required. Unless you’re a skilled “do-it-yourselfer” you’ll need to pay someone to do those routine tasks.

So think about it. How many bedrooms, baths, extra rooms, and square feet do you actually need in your new house for sale in Los Angeles?

You’ve been doing business with your bank here in Los Angeles for years. They know you. They may even have given you a Los Angeles real estate loan. You feel that you should be able to trust them, and you might believe you should be loyal to them.

Why? Because banks each have their own rules and regulations. And unless you fit their narrow parameters regarding qualifications, you won’t get a loan no matter how many years you’ve been banking with them.

You might be loyal – but banks have no such feelings.

Which is Better, A Los Angeles Real Estate Broker or Bank Loan?

A mortgage broker, on the other hand, might have 20 or more different loan sources, so your chances of obtaining a Los Angeles real estate loan that fits your individual situation are much better.

Mortgage brokers represent lenders who want your business and who offer different solutions. Some will grant your loan with a lower down payment, some with lower credit scores. Some will be more accepting of self-employment income, and today, some are even going back to stated income loans.

It pays to shop for a mortgage broker because some offer more programs than others and some charge lower fees. And, as in all occupations, some will work harder for you than others.

So when you’re ready to get pre-approved for a Los Angeles real estate loan, call me. I have a list of mortgage brokers who have served my Los Angeles home buyers well, and I’ll be happy to share that list.

Accurate pricing. A computer can only make comparisons based on square footage and the general area. It doesn’t know all the other details that make a huge difference in the selling price of a home. For instance, it doesn’t know if the walls are a pleasant neutral or psychedelic pink, if the cabinets are custom made or of WalMart quality, or if there’s a cat’s litter box smelling up the whole house – and it doesn’t know that two identical homes across the street from each other may have different values because one falls into a more desirable school district.

Accurate listings. Since Zillow and Trulia allow homeowners to post their own listings, and since no one monitors those listings, you’re apt to find Houses in Los Angeles listed that have been sold long ago. That’s a feature that’s frustrating for you as a buyer – and for me as an agent when I try to locate homes after a buyer asks to see them.

Does Your Houses in Los Angeles Have An Agent To List or Buy?

Negotiation. If the day comes when houses in Los Angeles are priced with a “take it or leave it” sticker, agents will be slightly less valuable. For now, negotiation is a big part of the process, and it involves a human touch. Does the computer know the seller’s motivation? Does it know whether the buyer is willing to walk away over an extra $1,000?

The real work comes in managing all those tasks and challenges that occur between agreement and closing. No computer program on earth can take the place of an agent who knows how to explain those steps; how to give reassurance when the going gets tough; how to locate and gain cooperation from the right people when there’s a glitch in the title; how to coordinate people and events so everything gets done on time; how to smooth ruffled feathers when buyer and seller are at odds; and a dozen other things.

You have Zillow and Trulia – use them to get an idea about the houses for sale in Los Angeles. Then call me to get the facts and the assistance you need to successfully purchase or sell a home.